The Self-Employed Taxpayer Sick and Family Leave Credit (SETC) was part of the Families First Coronavirus Response Act (FFCRA). It is available to self-employed individuals who were unable to work due to COVID-related reasons between April 1, 2020, and September 30, 2021.“
The Tax Credit Deadline!
Deadlines to Claim:
- For Tax Year 2020: If you were eligible for the SETC credit for 2020 and have not yet filed your tax return, you must file by April 15, 2024. This is the typical deadline for filing taxes for 2020, unless extended.
- If you have already filed your 2020 taxes but didn’t claim the credit, you can file an amended return (Form 1040-X). So long as it’s within the 3-year statute of limitations. The deadline to file an amended return for 2020 would be April 15, 2024 (3 years from the original deadline).
- For Tax Year 2021: If you were eligible for the credit for 2021 and have not yet filed your return, you must file it by April 15, 2024.
- If you already filed your 2021 taxes but didn’t claim the credit, you can file an amended return (Form 1040-X). The deadline for amended returns is also generally 3 years from the original filing deadline. Thus, you would have until April 15, 2024, to amend your 2021 return.
Are you eligible for the SETC tax credit?
Click here to see if you qualify and how to recover up to $34K in refunds owed to you.
Click HereWhat This Means:
- If you haven’t filed your taxes for 2020 or 2021, you still have time to file and claim the SETC tax credit. You’ll need to do so before the filing deadlines (April 15, 2024, for both years).
- If you’ve already filed your tax return but forgot to claim the SETC credit, you can still amend your return. Just do so before the 3-year statute of limitations ends. Those dates are April 15, 2024, for the tax year 2020 and April 15, 2025, for the tax year 2021).
Next Steps:
- File or Amend Your Tax Return: If you qualify for the credit and haven’t yet claimed it, you can file an original return or an amended return.
- Consult a Tax Professional: Given the complexity of these claims, it’s a good idea to consult with a tax professional to ensure you’re filing correctly and within the deadline.
Summary:
- Deadline to claim: You have until April 15, 2024, to claim the credit for 2020. You also have until April 15, 2025, to claim the credit for 2021. Either by filing a new return or amending a previous one.
- Amended returns: You can amend your 2021 return for the credit, but the amended return must be filed by April 15, 2025.
If you think you’re eligible and haven’t yet claimed the credit, now is the time to act to ensure you don’t miss the deadline.
You can recover this money easily by working with a tax recovery expert who can get back what you’re owed. To find a qualified expert click here
Learn more about the SETC tax credit
- Is the 1099 SETC Tax Credit a Scam?
- What is the 1099 SETC Tax Credit?
- Why Did My Accountant Not File For The SETC Tax Credit Already
- Do You Qualify for The SETC Tax Credit?
- How Do I Apply For the 1099 Worker SETC Tax Credit?
You could be owed $1000’s by the IRS
If you filed a Schedule C or form SE with your 2020 or 2021 taxes
Click here now to see how you can claim this refund.
Click Here
Pros
Cons
Funding Options
